Today, a whopping eight Profit Booster positions will expire. Most are “slam-dunk,” full-profit trades, while others will go down to the wire.
The big takeaway, before we dive in, is we are going to let the situation play itself out, and come Monday/Tuesday of next week we will revisit our profits, as well as how we will manage the remaining positions.
Here we go …
Let’s begin with our Cameco (CCJ) covered call. Initially, we bought the stock for 28.90 and sold the October 26 call for $4.30. Then, we sold the November 25 Call for $1.02
Today the stock is trading at 23.30. My plan is to simply let this position play itself out. If CCJ closes below 25 today (likely), we will let the option expire worthless, and revisit this position next week.
Moving on to Academy Sports & Outdoors (ASO). Last month we bought stock at 48 and sold the October 50 call for $2.13. Then, we sold the November 46 call for $2.59.
Today the stock is trading at 49.5. My plan is to simply let this position play itself out. If ASO closes above 46 today (likely), we will walk away with a nice $272 profit, or a yield of 5.92%.
Next up is Las Vegas Sands (LVS). Last month we bought the stock at 40.75 and sold the October 40 call for $2.87. Then, we sold the November 39 call for $0.71.
Today the stock is trading at 44. My plan is to simply let this position play itself out. If LVS closes above 39 today (likely), we will walk away with a decent $183 profit, or a yield of 4.83%.
Devon Energy (DVN) is the next stock we will discuss. We bought the stock at 71 and sold the October 70 call for $5.55. Then, we sold the November 65 call for $2.45.
Today the stock is trading at 68. My plan is to simply let this position play itself out. If DVN closes above 65 today (likely), we will walk away with a decent $200 profit, or a yield of 3.05%.
Next up is Wingstop (WING). Last month we bought the stock at 130 and sold the November 130 call for $11.85.
Today the stock is trading at 161. My plan is to simply let this position play itself out. If WING closes above 130 today (very likely), we will walk away with a great $1,185 profit, or a yield of 10%.
Sarepta Therapeutics (SRPT) is the next stock to discuss. We bought the stock at 106.8 and sold the November 100 call for $11.93.
Today the stock is trading at 111. My plan is to simply let this position play itself out. If SRPT closes above 100 today (likely), we will walk away with a nice $513 profit, or a yield of 5.4%.
Next up is Steel Dynamics (STLD). Last month we bought the stock at 96 and sold the November 95 call for $5.44.
Today the stock is trading at 100. My plan is to simply let this position play itself out. If STLD closes above 95 today (likely), we will walk away with a solid $444 profit, or a yield of 4.90%.
World Wrestling Entertainment (WWE) is the last stock we will discuss. We bought the stock at 76.4 and sold the November 75 call for $4.75.
Today the stock is trading at 77. My plan is to simply let this position play itself out. If WWE closes above 75 today (it will be close), we will walk away with a nice $335 profit, or a yield of 4.67%.
Pretty great two months of trading for the Profit Booster portfolio!
